BreadTalk Group Limited refers to the newspaper articles today on the recent signing of two new master franchise agreements by its wholly-owned subsidiary BreadTalk Pte Ltd ("BreadTalk") for Malaysia and Philippines, and would like to clarify the following:
There are currently 23 BreadTalk outlets in Singapore. We are targeting to open three to five more outlets in 2004, possibly in new locations like hospitals and schools.
We are also planning to open a second Din Tai Fung restaurant in Singapore, subject to the availability of a good site.
The first outlet in Shanghai opened in November 2003, with a second one slated to open by the end of this year. We are targeting to open 50 outlets in China in next three years.
BreadTalk's Indonesian franchisee opened the first store in Jakarta in April 2003, and two more in November 2003. There are plans to open two more outlets by February 2004, with a target of 10 to 15 outlets in the country within three years.
BreadTalk signed a master franchise agreement for the Gulf Cooperation Council (GCC) in October 2003 with Al-Mejhem Global Group, W.L.L. The GCC franchisee is planning to open its first outlet in Kuwait in February/March 2004, followed by two more outlets in the following two months. The target is to open 30 outlets in the GCC within two to three years.
BreadTalk's new franchisee in Philippines - BreadTalk Philippines, Inc, part of Wilson Chu's Group of Companies - plans to open 10 stores in the country in three years, with the first slated to open in March 2004.
BreadTalk's new franchisee in Malaysia - ML Breadworks Sdn Bhd - is also targeting to open 10 stores in three years, starting in the Klang Valley area, mainly Kuala Lumpur and Petaling Jaya areas, followed by the rest of West Malaysia. The first outlet will open in the first quarter of 2004.
BreadTalk is also targeting to appoint new franchisees in Hong Kong, Australia, Thailand and Taiwan in 2004.